At Annexa we are constantly looking for ways to embrace innovation to create further efficiencies and tools for our clients and to bring new and improved services to the market.
We recently participated in a ‘Hackathon’ hosted by NAB Bank. The two-day intensive program allowed teams the opportunity to develop exciting new ideas within a specific problem space and pitch the ideas to a panel of judges. Mentors with entrepreneurship, business, and technology experience were at the hackathon to push and challenge teams and their ideas
The problem space Annexa faced was ‘how might NAB help customers move to easier, faster, richer payments’. We came up with ‘Smart Pay’, a solution to unify your bank account with your ERP system, and in our case this was NetSuite.
‘Smart Pay’ is an Australian first. It gives users live bank feeds and direct payments integration between bank accounts and NetSuite, allowing you to do your banking within NetSuite. You are able to pay suppliers and automatically reconcile bank accounts within NetSuite with no uploads or downloads of bank files.
‘Smart Pay’ solves the disconnection issue between accounting and banking systems. It eliminates the labour intensive task of manual reconciliation & transaction matching, providing real time visibility of cash flow.
We are now looking towards ‘Smart Pay’s’ future with plans to automate vendor payments, customer reconciliation and employee payments.
Annexa is a leading NetSuite partner with extensive experience designing and implementing comprehensive and customised business systems, including payroll solutions, financial management, warehouse management and ecommerce solutions.